Advertorial • 08.01.2014

Top reasons why retailers cannot ignore Big Data captured in store

by Colm Roche, Sales Manager Central and Eastern Europe, ShopperTrak

Top reasons why retailers cannot ignore Big Data captured in store...
Source: ShopperTrak

Despite the fact that it could hold the key to the future of retail, many firms are still cautious when it comes to the concept of Big Data. According to PWC research, 62% of companies think Big Data could provide a competitive advantage for their business, but 58% feel that the ability to draw insights from it is a challenge.

In today’s retail environment, where consumers are using data and technology to take control of their shopping experience, retailers should seize the opportunity to gather the vast array of data coming their way to connect with consumers in a meaningful way.

There are a multitude of reasons why retailers must build a strategy for managing their in store data, but here are our top three:

  • Quite simply, the information holds the key to your customers

Extracting the right information from the data at your fingertips is an invaluable way for retailers to gain insight into both consumer behaviour and store performance. Identifying who is coming through the door, how long they browse for, which areas they linger in and whether they make a purchase is vital in today’s competitive retail environment. Operationally it enables retailers to plan staffing and measure customer service while for marketers it evaluates which campaigns work and where marketing spend needs to be focused.

  • Technology analyses the data so you don’t have to

According to analyst firm IDC, the amount of digital data in the world will double every two years between now and 2020. Retailers need to invest money and resources into the latest shopper data capture tools, from social media to mobile analytics and foot traffic counting to better understand the customer journey throughout the store. Only by bringing all of these data sources together however can they deliver actionable insight back to staff.

  • It’s only as complicated as you allow it to be

The key to getting the most out of your data is knowing exactly what it is that you want to achieve –If a shopper walks into a store and walks out again without making a purchase, retailers need to ask why. Is the merchandising the best it could be? Are there enough staff on duty? Marketing and operations teams do not need to understand how to interrogate trillions of bytes of data, they just need to know what makes a useful and a useless piece of information so they can adapt their strategies accordingly.

Big Data can significantly help the retail industry deliver what the customer wants, when they want it and via what channel. In-Store Traffic Intelligence companies can provide a number of pieces to the jigsaw, by providing the technologies that enable understanding of the brick and mortar customer journey, from the shop window to the final purchase. The key is to find the right technology partner to deliver the information retailers need in an accurate, consistent and reliable way to enable them to act on it to their advantage.

ShopperTrak is the leading global provider of shopper insights and analytics. Retailers rely on ShopperTrak for the most comprehensive and integrated solution for accurate retail store traffic counting, interior analytics and industry benchmarking to better understand in-store shopper behaviour. More than 750 world leading retail brands have ShopperTrak services deployed in over 60,000 locations across 90 countries and territories.

Click here to get to ShopperTrak's website: www.shoppertrak.co.uk.

Supplier
Logo: ShopperTrak

ShopperTrak

St John's Court, Easton St, High Wycombe
Buckinghamshire HP11 1JX
UK

related articles:

popular articles:

Thumbnail-Photo: Electronic shelf labels: photo store introduces new technology...
09.05.2020   #electronic shelf labels (ESL) #electric displays

Electronic shelf labels: photo store introduces new technology

Cooperation between Photografica and Delfi Technologies

Photografica is a professional photography store in the heart of Copenhagen. Here, personal counseling and service play a crucial role. To the benefit of both employees and customers, the store has installed electronic price tags.With a central ...

Thumbnail-Photo: Behind the curtain: Inside Amazon
18.05.2020   #online trading #marketing

Behind the curtain: Inside Amazon

A Frankfurt startup helps sellers to improve their ranking on the platform

"I want to successfully promote and sell my products on Amazon" - that's the goal of many sellers. It comes as no surprise as the Seattle-based online store has evolved to become the largest e-commerce marketplace in Europe since its ...

Thumbnail-Photo: Zebra Technologies to acquire Reflexis Systems, Inc....
10.08.2020   #POS communications #workforce deployment

Zebra Technologies to acquire Reflexis Systems, Inc.

Acquisition helps Zebra empower every worker at the edge to execute the best next action

Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge, today announced it intends to acquire Reflexis Systems, Inc., a ...

Thumbnail-Photo: eBay’s management of payments begins scaling globally...
24.07.2020   #online trading #e-commerce

eBay’s management of payments begins scaling globally

Payments initiative reaches a milestone as the Operating Agreement with PayPal expires

Starting today (July 20th), eBay will begin expanding its management of payments around the globe. The company embarked on its journey to manage the end-to-end payments process on its marketplace platform in late 2018 and is already seeing success ...

Thumbnail-Photo: The safety barrier you need right now
02.06.2020   #customer satisfaction #security

The safety barrier you need right now

Poindus ProShield is an effective protection screen.

Safeguards like social distancing implemented in-store during staff-customer interactions are enhanced with our ProShield, an effective protection screen that provides an additional layer of protection for cashiers & customers at the point of ...

Thumbnail-Photo: CCV announces consolidation of its international payment division,...
02.07.2020   #mobile payment #payment systems

CCV announces consolidation of its international payment division, focuses on market innovations

Under the flagship of CCV GmbH, the company plans to bring its innovation into specific international markets

CCV Group B.V. has announced that all of its international business activities will now be consolidated and run within its Germany-based division - CCV GmbH. CCV GmbH will carry out the activities of the former CCV Deutschland GmbH and CCV Easy, a ...

Thumbnail-Photo: Electric vehicles for safe on-the-go food distribution during pandemic...
28.08.2020   #food retail #delivery

Electric vehicles for safe on-the-go food distribution during pandemic

Gallery E vehicles solve food service challenges at universities and corporate campuses this fall

Gallery, the leading innovator of mobile carts for food, beverage and retail businesses, has announced a unique partnership with AYRO, Inc. and Club Car to launch a new line of electric vehicles to help bring food, beverage, and retail merchandising ...

Thumbnail-Photo: SALTO releases the SALTO Neo Cylinder
18.08.2020   #access control #access control systems

SALTO releases the SALTO Neo Cylinder

State of the art, wireless access control technology

SALTO Systems, a leading manufacturer of electronic access control solutions, has released the SALTO Neo Cylinder – a new electronic cylinder that offers more features and better functionality than any other cylinder on the market. ...

Thumbnail-Photo: Bright future for Copenhagen-based Irma Store...
15.06.2020   #electronic shelf labels (ESL) #price labelling

Bright future for Copenhagen-based Irma Store

Automatic price updates with ESL

Irma Smedetoften is located in the heart of Copenhagen's Northwest Quarter. The area around the Irma store is part of an urban development project where, among other things, the local trade district will be strengthened. Irma has also recently ...

Thumbnail-Photo: Automated delivery services sprang up during China’s Covid-19 lockdown...
03.06.2020   #coronavirus #delivery

Automated delivery services sprang up during China’s Covid-19 lockdown

Retail technologies at Smart Retail Expo (SRE 2020)

In response to the Covid-19 outbreak, China’s retail giants JD.com and Meituan both deployed their smart deliver robots/vehicles in heavily locked down cities, such as Wuhan and Beijing. Insiders believe automated delivery technology will be ...

Supplier

CCV GmbH
CCV GmbH
Gewerbering 1
84072 Au i.d.Hallertau
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
SALTO Systems GmbH
SALTO Systems GmbH
Schwelmer Str. 245
42389 Wuppertal
APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven
POS TUNING Udo Voßhenrich GmbH & Co KG
POS TUNING Udo Voßhenrich GmbH & Co KG
Am Zubringer 8
32107 Bad Salzuflen
Adasys GmbH – a Poindus Company
Adasys GmbH – a Poindus Company
Max-Planck-Straße 10
70806 Kornwestheim
Poindus HQ - Taiwan
Poindus HQ - Taiwan
5F., No.59, Ln. 77, Xing-Ai Rd.,Neihu Dist.
Taipei City 114
Apostore GmbH
Apostore GmbH
Uferstraße 10
45881 Gelsenkirchen
Reflexis Systems GmbH
Reflexis Systems GmbH
Kokkolastr. 5-7
40882 Ratingen